EUR/USD Current price: 1.3804
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More entertained day this Tuesday, with data releases from all major economies sees EUR/USD holding around the 1.3800 figure ahead of US opening. In Europe, German ZEW survey came out mixed, with sentiment decreasing in the country, but positive for the region. In the US, inflation readings surprised to the upside with a shy spike up to 0.2% monthly basis, albeit the Empire State manufacturing index presented a huge miss, decreasing to 1.3 from 5.6 previous month. Finally TIC long term purchases for the US beat expectations, while Janet Yellen added nothing new to the economic policy picture. Stocks in Europe present a slightly bearish tone, while gold nosedived, dragging AUD lower against its rivals.
Technically the EUR/USD hourly chart shows price limited below a strongly bearish 20 SMA, while indicators stand neutral in negative territory; in the 4 hours chart indicators maintain a bearish tone, with price coming back some from its 200 EMA, currently around 1.3790. Either a break below 1.3780 or above 1.3820 will set a more clear directional move for the day, with the downside favored towards 1.3720 on a break of the strong Fibonacci support.
Support levels: 1.3780 1.3750 1.3720
Resistance levels: 1.3820 1.3850 1.3890
GBP/USD Current price: 1.6733
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Pound holds around its daily high against the greenback, reached after the shocking improvement in housing data, which gathered far more attention than inflation readings in line with expectations. As commented on previous updates, buyers around 1.6660 strong static support level were strong enough to halt any attempt to break lower, and when the level was tested triggered an impressive recovery. Technically, the hourly chart shows price above its 20 SMA while indicators grind higher around their midlines, lacking strength at the time being. In the 4 hours chart 20 SMA caps the upside around 1.6745 while indicators lost the downward potential, but hold right below their midlines. Further gains above 1.6750 are now required to confirm a full recovery, eyeing then 1.6820 price zone.
Support levels: 1.6710 1.6695 1.6660
Resistance levels: 1.6750 1.6785 1.6820
USD/JPY Current price: 101.83
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The USD/JPY struggles around the Fibonacci resistance of 101.85, maintaining a pretty right range right below key 102.00 figure. The hourly chart shows price holding also above a flat 100 SMA, while indicators present a slightly bearish tone. In the 4 hours chart technical readings are mostly neutral due to the lack of action surrounding the pair. Nevertheless, the downside remains favored towards 101.20 as long as sellers continue to defend mentioned 102.00 price zone.
Support levels: 101.55 101.20 100.70
Resistance levels: 102.00 102.35 102.60
AUD/USD Current price: 0.9361
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Not a good day for Aussie today, with the currency weighted by gold drop as commented above: the AUD/USD trades right above 0.9360 static support, presenting a strong bearish short term tone according to the hourly chart, as indicators head lower deep into negative territory while 20 SMA gains bearish slope above current price. In the 4 hours chart technical readings present a slightly bearish tone, with a break below mentioned support favoring a downward extension for today.
Support levels: 0.9360 0.9320 0.9290
Resistance levels: 0.9445 0.9485 0.9530
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